Global tipping point?

With the US and northern Europe in the grip of severe economic problems, and with the Dubai Investment Corporation still being mentioned as a potential purchaser of Liverpool Football Club, the al Maktoum family's purchase of Manchester City, Doha's bid to host the 2014 Olympic Games, Qatar's intention to bid for the 2018 FIFA World Cup, and 2009 F1 Grand Prix races being staged in Bahrain and Abu Dhabi, one has to ask whether we are close to a tipping point in the global power base of world sport?